Wells Fargo & Company Cuts Globant (NYSE:GLOB) Price Target to $57.00

Globant (NYSE:GLOB) had its price objective lowered by Wells Fargo & Company from $68.00 to $57.00 in a report published on Monday,Benzinga reports. The firm currently has an equal weight rating on the information technology services provider’s stock.

GLOB has been the subject of several other research reports. Canaccord Genuity Group dropped their price objective on shares of Globant from $70.00 to $50.00 and set a “hold” rating for the company in a report on Friday, February 27th. Weiss Ratings reissued a “sell (d+)” rating on shares of Globant in a research note on Monday, December 29th. Truist Financial assumed coverage on Globant in a report on Tuesday, January 6th. They set a “hold” rating and a $72.00 price target for the company. Needham & Company LLC decreased their price objective on Globant from $80.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Finally, William Blair reiterated an “outperform” rating on shares of Globant in a research report on Wednesday, December 31st. Six analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $81.27.

Globant Price Performance

Shares of Globant stock opened at $52.06 on Monday. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 5.42 and a beta of 1.21. The company has a quick ratio of 1.93, a current ratio of 1.64 and a debt-to-equity ratio of 0.16. The stock’s 50-day simple moving average is $60.25 and its 200-day simple moving average is $61.62. Globant has a 52 week low of $40.76 and a 52 week high of $147.25.

Globant (NYSE:GLOB) last issued its earnings results on Thursday, February 26th. The information technology services provider reported $1.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.54. Globant had a return on equity of 9.98% and a net margin of 4.19%.The company had revenue of $612.47 million for the quarter, compared to the consensus estimate of $605.61 million. During the same quarter last year, the company earned $1.75 EPS. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. Globant has set its Q1 2026 guidance at 1.440-1.540 EPS and its FY 2026 guidance at 6.100-6.500 EPS. As a group, analysts expect that Globant will post 5.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Globant

Several hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC boosted its holdings in Globant by 30.1% during the 2nd quarter. CWM LLC now owns 636 shares of the information technology services provider’s stock valued at $58,000 after acquiring an additional 147 shares during the period. Baker Avenue Asset Management LP boosted its stake in shares of Globant by 2.0% during the second quarter. Baker Avenue Asset Management LP now owns 8,010 shares of the information technology services provider’s stock valued at $728,000 after purchasing an additional 156 shares during the period. GAMMA Investing LLC boosted its stake in shares of Globant by 34.3% during the fourth quarter. GAMMA Investing LLC now owns 712 shares of the information technology services provider’s stock valued at $47,000 after purchasing an additional 182 shares during the period. Signaturefd LLC grew its holdings in shares of Globant by 65.1% in the fourth quarter. Signaturefd LLC now owns 482 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 190 shares during the last quarter. Finally, Allworth Financial LP increased its stake in Globant by 214.1% in the 2nd quarter. Allworth Financial LP now owns 289 shares of the information technology services provider’s stock worth $26,000 after buying an additional 197 shares during the period. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

About Globant

Globant is a digitally native technology services company founded in 2003 in Buenos Aires, Argentina. Specializing in software development and digital transformation, Globant partners with enterprises to conceive, design and engineer software products and platforms. The company leverages agile methodologies and proprietary delivery frameworks to accelerate projects in areas such as cloud migration, user experience design, data analytics, artificial intelligence and blockchain-enabled solutions.

Globant’s service offerings span strategy consulting, custom software engineering, digital experience design and managed services.